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Power Device Analyzer Global Market Report 2023: Increasing Adoption of Power-Efficient Devices Across Various Industries Boosts Growth
Global Power Device Analyzer Market
Dublin, March 15, 2023 (GLOBE NEWSWIRE) -- The "Power Device Analyzer Market by Type (Both AC and DC, AC and DC), Current (Below 1000A and Above 1000A), End user (Automotive, Energy, Telecommunication, Consumer Electronics and Appliances, Medical) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The Power Device Analyzer market is projected to reach USD 600 million by 2027 from an estimated USD 470 million in 2022, at a CAGR of 5.0% during the forecast period.
The increased switch towards more energy efficient systems which utilizes low energy and the increased demand for the Electric Vehicles to reduce the use of fossil fuels and utilize clean power are driving the power device analyzer market. The adoption of IoT across all the sectors are also aiding the Power device analyzer market
The automotive segment is expected to grow at the highest CAGR of 5.2% from 2022 to 2027.
In the end user industries, the automotive industry segment is predicted to be having the largest share among others with fastest growing market in the forecasted period. In this automotive sector, the power device analyzers are used for various testing of the components like electric motors, battery management systems, navigation systems, and electrical charging systems, Furthermore there is a increased adoption of the Electric Vehicles across all regions.
Below 1000A is expected to grow at the highest CAGR of 5.2% from 2022 to 2027 by current
The power analyzer devices that measures current less than 1000A is been mostly used across all the region dominating the power device analyzer market. It is been used for critical applications and in testing main components installed in many industries. The testing of the components by this device helps in reducing the operating cost by improving the efficiency of the components. Therefore the below 1000A segment is predicted to have a robust growth in the forecasted period
Asia Pacific: The largest Power Device Analyzer market
Asia Pacific accounted for the largest share of 54.3% of the Power Device Analyzer market amongst all regions in 2021. The growth of the power device analyzer in this region is aided by the increased demand for Electric Vehicles and the rising government initiatives and restrictions
Asia-pacific is further segmented by country wise into Japan, china, South Korea, India, Australia and Rest of Asia Pacific. Asia is a manufacturing hub and it has boosted industrialization in this region with the south east Asia dominance in this. For the past few years this region has seen a significant economic growth and growth in the power demand. It is also having a increased investments towards the renewable energy generation.
Market Dynamics
Drivers
Rising Focus on Energy Savings
Increasing Adoption of Power-Efficient Devices Across Various Industries
Growth of Electric Vehicles Market
Restraints
Expanding Gray Market
Opportunities
Growing Focus on Energy Audits and Regulations
Increasing Adoption of Power Device Analyzers by Renewable Energy Sectors
Growing Market for IoT Devices
Challenges
High Initial Cost of Installation
Requirement of Skilled Personnel
Key Attributes:
Report Attribute | Details |
No. of Pages | 194 |
Forecast Period | 2022 - 2027 |
Estimated Market Value (USD) in 2022 | $470 Million |
Forecasted Market Value (USD) by 2027 | $600 Million |
Compound Annual Growth Rate | 5.0% |
Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Power Device Analyzer Market, by Type
6.1 Introduction
6.2 Both AC and DC
6.3 AC
6.4 DC
7 Power Device Analyzer Market, by Current
7.1 Introduction
7.2 Below 1000A
7.3 Above 1000A
8 Power Device Analyzer Market, by End-user
8.1 Introduction
8.2 Consumer Electronics and Appliances
8.3 Automotive
8.4 Telecommunication
8.5 Energy
8.6 Medical
8.7 Others
9 Power Device Analyzer Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
Arbiter Systems
Carlo Gavazzi
Circutor
Dewesoft D.O.O
Dewetron
Extech Instruments
Fluke Corporation
Hioki E.E. Corporation
Iwatsu Electric
Janitza Electronics Gmbh
Keysight Technologies
Magtrol
Newtons4Th
Pce Instruments
Rohde & Schwarz
Texas Instruments
Valhalla Scientific
Vitrek
Yokogawa Electric Corporation
Zes Zimmer Electronic Systems Gmbh
For more information about this report visit https://www.researchandmarkets.com/r/h218z2
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